If my ppor is knocked down, & units are built on the block, then individually sold, would any,all, or none be subject to CGT &/or stamp duty? (or any other fees?) thanks
I think you could probably only retain one as your PPOR.
have a look at the articles on http://www.bantacs.com.au
Terryw
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Misty,
There are provisions in the Act that discuss this scenario and the main residence exemption. Discuss with your accountant.
You’re allowed to have 2 ppor within 6 months. This allows timing between the sale of your recently moved out property and your new settled property.
Nothing prevents you from selling your old and new one within 6 months.
Just wondering how you intend to live there during the development of the 2 units.
hope this helps.
ptnthanks everyone. And PTN: there is 4 units to be built, so the original ppor wont be knowcked down until last, giving eay 6months before I need to find new ppor.
I must admit, am still confused how this will work though. Time to research I think!HappyHomes | HappyHomes
Email MeYou need advice,
as you are a developer so they are not subject to GST, they are subject to TAX if the PPOR does not apply, also GST.
Lots of issues here.
Can make lots of money, make an investment and spend some money on advice.
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